Total monthly cost of ownership
Cost to Own a Home in Indianola, Iowa
A $228,000 home here costs
$1,968per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,172. The real number is $796 higher every month — 68% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Indianola against Warren County and Iowa
| Measure | Indianola | Warren County |
|---|---|---|
| Median home value | $228,100 | $252,800 |
| Median property tax | $3,741 | $3,797 |
| Effective tax rate | 1.640% | 1.502% |
| Median gross rent | $966 | $975 |
| Population | 15,918 | 53,484 |
The weather behind that power bill
Indianola sits in Warren County, which averages a high of 85.5°F in its hottest month and a low of 11.6°F in its coldest, with 37.8" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 934 cooling and 6,417 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Warren County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Warren County
No other places of this size are published in Warren County.
Common questions
How much does it cost to own a home in Indianola?
A $228,000 home in Indianola, Iowa costs approximately $1,968 per month with 20% down at 6.66%. That is $1,172 principal and interest, $312 property tax, $99 homeowners insurance, $195 utilities and $190 set aside for maintenance.
What is the property tax rate in Indianola?
Indianola has an effective property tax rate of 1.640%, based on a median home value of $228,100 and median real estate taxes of $3,741. That is higher than the Warren County average of 1.502%.
What is the average home price in Indianola?
The median owner-occupied home value in Indianola, Iowa is $228,100, against $252,800 across Warren County.
Is it cheaper to rent or buy in Indianola?
Median gross rent in Indianola is $966 a month, against $1,968 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Indianola — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Iowa.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.